Navy Federal Credit Union 2015 Annual Report Download - page 40

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Financial Section 21
2015—SHARED SUCCESS
December 31, 2015
(dollars in thousands) FICO Score
Delinquency Status Less than 610 Greater than or
equal to 610 Total(1)
Performing $ 210,524 $ 2,173,836 $ 2,384,360
60+ days & foreclosure 19,302 9,162 28,464
Total $ 229,826 $ 2,182,998 $ 2,412,824
(1)Excludes fair value adjustments associated with the ACI portfolio (See Note 5) of $(3.4) million, deferred costs of $8.2 million,
other adjustments of $(3.1) million and loans in process of $0.4 million.
December 31, 2014
(dollars in thousands) FICO Score
Delinquency Status Less than 610 Greater than or
equal to 610 Total(1)
Performing $ 232,832 $ 2,144,443 $ 2,377,275
60+ days & foreclosure 30,039 12,326 42,365
Total $ 262,871 $ 2,156,769 $ 2,419,640
(1)Excludes fair value adjustments associated with the ACI portfolio (See Note 5) of $(12.7) million, deferred costs of $12.4 million,
other adjustments of $(0.6) million and loans in process of $0.7 million.
Allowance for Loan and Lease Losses
Changes in the allowance for loan and lease losses during the years ended December 31, 2015
and 2014 were as follows:
(dollars in thousands) December 31, 2015
Allowance for credit losses: Consumer Credit Cards Real Estate Total
Balance, beginning of year $ 297,632 $ 335,343 $ 119,860 $ 752,835
Provision expense 471,271 463,288 5,557 940,116
Loans charged o (389,400) (374,974) (34,448) (798,822)
Recoveries 50,141 20,790 5,510 76,441
Net change in allowance for unfunded commitments (1,020) (3,571) — (4,591)
Balance, end of year $ 428,624 $ 440,876 $ 96,479 $ 965,979
Ending balance: loans individually
evaluated for impairment $ 71,675 $ 62,994 $ 76,184 $ 210,853
Ending balance: loans collectively
evaluated for impairment $ 354,199 $ 377,883 $ 17,584 $ 749,666
Ending balance: loans acquired with
deteriorated credit quality $ 2,749 $ — $ 2,711 $ 5,460
Loan amount (excluding allowance):
Ending balance: loans individually
evaluated for impairment $ 456,863 $ 286,212 $ 757,898 $ 1,500,973
Ending balance: loans collectively
evaluated for impairment $ 15,285,760 $ 10,474,720 $ 26,000,379 $ 51,760,859
Ending balance: loans acquired with
deteriorated credit quality $ 5,772 $ — $ 23,878 $ 29,650